The assets of the Employees' Pension Plan allocated as provided in this chapter shall be distributed in such manner as the Pension Committee shall determine, including, without limitation, lump sum cash payments, cash installments, the purchase of immediate or deferred annuities or any combination thereof. Any residual assets of a Plan may be distributed to the Borough if, and only if, all liabilities of the Plan to the members and their beneficiaries have been satisfied and such distribution does not contravene any provision of law.
(Ord. 826. Passed 10-9-84.)